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85 Individuals own as much as the poorest half of Globe

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85 Individuals own as much as the poorest half of Globe

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Just 85 people have as much wealth as the poorest half of the world’s population combined, according to a report by Oxfam International.

The report was revealed ahead of the World Economic Forum meeting held in Davos, Switzerland. Titled “Working for the Few,” it offered these statistics:

  • “Almost half of the world’s wealth is now owned by just one percent of the population.
  • “The wealth of the one percent richest people in the world amounts to $110 trillion. That’s 65 times the total wealth of the bottom half of the world’s population.
  • “The bottom half of the world’s population owns the same as the richest 85 people in the world.
  • “Seven out of ten people live in countries where economic inequality has increased in the last 30 years.
  • “The richest one percent increased their share of income in 24 out of 26 countries for which we have data between 1980 and 2012.
  • “In the US, the wealthiest one percent captured 95 percent of post-financial crisis growth since 2009, while the bottom 90 percent became poorer.”

According to Reuters, the World Economic Forum warned that “there was a ‘lost’ generation of young people coming of age in the 2010s who lack both jobs and, in some cases, adequate skills for work, fuelling pent-up frustration.

“This could easily boil over into social upheaval, as seen already in a wave of protests over inequality and corruption from Thailand to Brazil.” 

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